Chapter 4 - Government and Nonprofit Chapter 4 Accounting...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Government and Nonprofit Chapter 4: Accounting for Governmental Operating Activities 4-1 Examine the CAFR A. Governmental Activities, Government-Wide Level 1. Are governmental activities reported in a separate column from business-type activities in the two government-wide financial statements? - Yes, they are separated under the heading Function/Program PRIMARY GOVERNMENT 2. Are assets and liabilities reported either in the relative order of their liquidity or on a classified basis on the statement of net assets? - Relative Liquidity 3. Is information on expenses for governmental activities presented at least at the functional level of detail? - Yes 4. Are program revenues segregated into (a) charges for services, (b) operating grants and contributions, and (c) capital grants and contributions on the statement of activities? - Yes B. General Fund 1. What statements and schedules pertaining to the General Fund are presented? - Balance Sheet, Statement of revenues, Expenditures and Changes in Fund Balances 2. In what respects (headings, arrangements, items included…) do they seem similar to the year-end statements illustrated or described in the text? - They are very similar to the year-end statements illustrated in the text in all respects to headings, arrangements, and other items included 3. In what respects do they differ? - The Owensboro General Fund includes receivables and liabilities 4. What purpose is each statement and schedule intended to serve?
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern